Strictly speaking, the Dreamcast version is known internally as Cyber Troopers Virtual-On: Oratorio Tangram M.S.B.S. Ver. 5.45, as although it is based on Ver. 5.4, it contains some stages from the original Cyber Troopers Virtual-On and can be played in Ver. 5.2 mode once the option is unlocked.

Ver. 5.4 is much the same game as Ver. 5.2 but addresses perceived balance issues among other minor changes. It is also the first version to be released outside of Japan, although the Dreamcast port was not released in Europe. It was followed by a final revision, Cyber Troopers Virtual-On Oratorio Tangram M.S.B.S. Ver. 5.66